DOGE Technical Analysis: Consolidation is not a bottom formation, but a "bear's breather".

Comprehensive analysis indicates that DOGE is currently showing a typical downward consolidation pattern on the 1-hour level. Although there has been a short-term technical rebound, the daily level's downward pattern has not yet reversed, and the overall trend remains weak. The current rebound strength is limited, and the market clearly lacks upward confidence below the key resistance area.

Core Technical Observation

K-line structure: multiple Kongs in confrontation, Kong head has the advantage
On the 1-hour timeframe, the price has formed a downward trend line with gradually lower highs during the rebound process, indicating that each rebound is met with strong selling pressure. Although there was a short-term bottoming signal of a "single needle test bottom," it failed to effectively break through the resistance of the key moving average EMA120, raising doubts about the sustainability of the rebound.
On the daily chart, the previously formed "Evening Star" bearish pattern triggered this round of decline. Although there were K-lines with long lower shadows indicating short-term bottom-fishing behavior, the subsequent rebound saw a significant shrinkage in trading volume, forming a typical "volume-price divergence," indicating weak buying pressure and a fragile basis for the rebound, suggesting a high possibility of a further decline in the future.

The trading volume exposes the weak nature of the rebound.
Recently, the significant increase in trading volume during the decline (such as the transaction reaching 1.657 billion USD on October 30) indicates that market panic is strong, and selling pressure is heavy; while in the subsequent rebound phase, the trading volume plummeted to 83 million USD (on October 31), reflecting that investors have a very low willingness to chase the market, lacking incremental capital support, making it difficult for the rebound to sustain.

Key Trading Strategy Tips

[Cautious Strategy: Participate in the Rebound Carefully]
Entry timing: It is recommended to lightly try near the early low points, referencing the support level at $0.18100, or stronger support at $0.17850.
Stop-loss setting: Be sure to set the stop-loss strictly below $0.17600. Once it falls below the previous daily low, it will be considered a failed rebound, potentially opening a new round of downward movement.
Target Levels: The first target is aimed at the descending trendline resistance at $0.18550, and the second target is the previous high resistance at $0.18700.

[Follow the trend strategy: Go with the flow]
Entry Timing: A rebound to the resistance range is an ideal window for positioning, with a focus on the $0.18550 – $0.18700 area.
Stop Loss Setting: To prevent the risk of false breakouts, the stop loss for the order should be set above $0.18850.
Outlook: If the price encounters resistance in the resistance zone and falls back, the primary support below is the aforementioned long entry point; if it breaks down, it may further test $0.176 or even lower levels.

Summary and Outlook
DOGE is currently in a weak consolidation phase, with insufficient momentum to break through the multiple resistances above. Until the price effectively stands above $0.18850, shorting on rallies remains a more suitable trading strategy for the current trend. Any rebound trades on DOGE are considered high-risk short-term operations, and strict stop-loss discipline must be enforced.

Risk Warning: This analysis is based on publicly available market data and is for reference and discussion only, not constituting investment advice. The cryptocurrency market is highly volatile; investment should be approached with caution, and risks are borne by the investor.
#GatePay国家码功能上线 #美联储如期降息25基点 #参与创作者认证计划月领$10,000